Nightcap shareholders approve plan to go private in August

Bar operator Nightcap has announced that its shareholders approved its plans for the group to re-register as a private company with the name ‘Nightcap Limited’ on or around 15 August as its AGM.

Meanwhile, pursuant to the passing of Resolution 1, the group’s cancellation of admission of the company’s ordinary shares to trading on AIM will become effective on 29 July.

To facilitate future shareholder transactions in ordinary shares, the group has appointed Asset Match Limited to provide a matched bargain facility, which is expected to be available from 29 July 2024.

Asset Match, a firm authorised and regulated by the Financial Conduct Authority (FCA), will operate an electronic off-market dealing facility in the ordinary shares.

According to Nightcap, this facility will allow existing shareholders of the company and new investors to trade the ordinary shares by matching buyers and sellers through periodic auctions.

For at least 12 months from the date of cancellation, Nightcap intends to continue to maintain its website – nightcapplc.com – and to post updates on the website from time to time.